Commentary

D7.495 Transition – analysing the total transitional difference

Corporate tax
Corporate tax | Commentary

D7.495 Transition – analysing the total transitional difference

Corporate tax | Commentary

D7.495 Transition – analysing the total transitional difference

The rules in this division apply for accounting periods beginning on or after 1 January 2013. For accounting periods beginning before 1 January 2013 see Division D7.5.

Having calculated the total transitional difference, the company must deconstruct it into its component parts by reference to its 2012 regulatory return and statutory accounts balance sheet, identifying each as a positive or negative amount1.

Although arguably self-evident the amounts so identified when totalled must equal the total transitional amount2.

A regulation making power is provided to allow the Treasury to prescribe the level of granularity required in

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial